October 27th, 2020 - 07:14 GMT
Union Properties PJSC, the iconic real estate developer with a portfolio of diversified subsidiaries, has announced the successful completion of an AED 70 million payment towards its largest lender. This payment comes as part of a comprehensive debt restructuring plan, announced last August, with the aim of improving the Group’s cash-flow and restoring its standing with the banking sector. In this regard, Khalifa Hassan Al Hammadi, Chairman of the Board of Directors, said: “Union Properties PJSC is a strong group with a large asset base and fantastic operations. Despite challenging ...